Whirlpool of India slipped 3.02% to Rs 1349.80 after the company's net profit tumbled 43.7% to Rs 24.69 crore on 15.5% decline in net sales to Rs 1,302.46 crore in Q3 FY23 over Q3 FY22.
Profit before tax declined 41% to Rs 36.08 crore in Q3 FY23 compared with Rs 61.11 crore in corresponding quarter last year.Total expense declined 12.76% to Rs 1,307.35 crore during the quarter as against Rs 1,498.60 crore in corresponding quarter last year. Cost of raw material consumed stood at Rs 843.58 crore (up 17.7% YoY). Employee benefit expense was at Rs 156.32 crore (up 2% YoY).
Whirlpool of India is a leading manufacturer of home appliances. It is primarily engaged in manufacturing and trading of refrigerators, washing machines, air conditioners, microwave ovens, built in and small appliances and caters to both domestic and international markets. The company also provides services in the area of product development and procurement services to Whirlpool Corporation, USA and other group companies.
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